On March 27th, Tianyin Pharmaceutical announced that it has officially completed the C-round financing of 50 million US dollars (about 320 million yuan). It was led by Sequoia Capital China Fund, New World Information Technology Co., Ltd., China Aviation Trust Co., Ltd., King Star Capital, and Gefei Assets.
Tianyin Pharmaceutical said that the funds raised in this round will be mainly used to complete the clinical trial of new antibody drugs that are being declared IND globally, and to promote the development of follow-up innovative drug product lines.
"In recent years, tumor immunotherapy is on the rise, and the research and development results for the PD-1/PD-L1 target are endless. Tianshen Pharmaceutical is more concerned with how to solve the patient population that has not yet responded to the target, and to meet the existing tumor immune products. In the clinically unresolved needs, Dr. Luo Peizhi, founder, chairman and president of Tianyin Pharmaceuticals, said, “The innovative drug that Tianshen Pharmaceuticals reported to the US FDA has a unique target mechanism, which is still internationally No drug approved for listing."
As the leading investor in this round of financing, Mr. Shen Nanpeng, the global executive partner of Sequoia Capital, said: "Based on the existing technology platform, Tianshen can flexibly expand and continuously develop new and better antibody drugs. Sequoia China leads the world. The financing industry's financing hopes to help and accelerate the company's process of transforming first-class platforms and technologies into products, so that more therapeutic antibody-based drugs can benefit human health as soon as possible."
It is understood that Tianshen Pharmaceutical is founded by two biomedical scientists. It is a biopharmaceutical enterprise dedicated to creating a dynamic and accurate antibody platform with independent intellectual property rights and a unique original antibody product line. Earlier, Tianshen Pharmaceutical had completed two rounds of financing, raising more than 300 million yuan. At present, Tianyin Pharmaceutical has established an original product line with new targets and new targets, and several products are rapidly advancing clinical.
(Text / M.Q)
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